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Option Deal Structure Works For Myriad As It Moves To Buy Crescendo

Having watched Crescendo Bioscience gain a foothold in the market for inflammatory and autoimmune diagnostics, Myriad Genetics is now moving to acquire the company – a right it obtained via a novel strategic investment agreement in 2011.

When Myriad Genetics Inc. crafted a strategic investment agreement with an option to purchase with Crescendo Bioscience Inc. in September 2011, the company emphasized its desire to diversify both in terms of therapy area (beyond oncology) and technology (into protein-based testing) while maintaining the younger company’s independence and giving it time to prove itself. (SeeAlso see "Myriad Genetics' M&A Buys Into Protein-Based Testing" - Scrip, 1 October, 2011..) Having watched Crescendo gain a foothold in the market for inflammatory and autoimmune diagnostics – it had launched its first test, Vectra DA, for measuring disease activity in rheumatoid arthritis patients, in November 2010 – Myriad is now moving forward with the acquisition. (See Also see "News Briefs: PillCam Colon Clearance; CGM For Pediatrics; SGR Reform Bill" - Medtech Insight, 10 February, 2014..)

Myriad first came to know Crescendo when a mutual acquaintance brought together Crescendo President and CEO William Hagstrom and Myriad Genetic Laboratories Inc. President Mark Capone at the J.P. Morgan...

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